Syllabus

Title
1803 International Macroeconomics
Instructors
Melanie Gräser, MSc.
Contact details
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
09/03/20 to 09/20/20
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Dates
Day Date Time Room
Wednesday 10/07/20 12:00 PM - 03:00 PM TC.4.27
Wednesday 10/14/20 12:00 PM - 03:00 PM TC.4.27
Wednesday 10/21/20 12:00 PM - 03:00 PM TC.4.27
Wednesday 10/28/20 12:00 PM - 03:00 PM TC.4.27
Wednesday 11/04/20 12:00 PM - 02:00 PM TC.0.02 Red Bull
Wednesday 11/11/20 12:00 PM - 03:00 PM TC.4.27
Wednesday 11/18/20 12:00 PM - 03:00 PM Online-Einheit
Wednesday 12/02/20 12:00 PM - 03:00 PM Online-Einheit
Wednesday 12/09/20 12:00 PM - 03:00 PM Online-Einheit
Wednesday 12/16/20 03:30 PM - 05:30 PM Online-Einheit
Procedure for the course when limited activity on campus

rotation mode

The mode we propose corresponds to the rotation mode in sfar as we provide that the student groups are present alternately in the lecture hall. It specifies the rotation mode in more detail, since we provide for the students who are not in the lecture room that they take part in the course units remotely and synchronously (we are not asking them to learn the material covered in the unit in self-study).

 Please create access to Microsoft Teams before the first lesson. Microsoft Teams is used flexibly, either at the lecturer's desk in the lecture room (or  if it is not allowed to enter the lecture Rooms  in the home office). The screen of the lecturer's desk is shared between the students in the lecture room and those at home. For the students in the lecture room, the lecturer's PC projects onto the whiteboard; students at home need their own laptop (tablet), with which MS-Teams can share the screen. The sound is transmitted from the lecture room via a microphone to the students in the home office. (It is not intended / necessary to film the lecturer.)

 The course takes place synchronously; it is not intended to record the units for asynchronous use.

If you are not subject to travel restrictions, attendance is mandatory (either in the lecture room or remotely via MS-Teams) on specified dates. Please expect that – most likely – you will have to be present in the lecture room every second meeting. Depending on the Corona situation, the meetings with physical attendance will be announced shortly before the course begins. Please note that this mode is very flexible and the presence in the lecture room can vary between 0% - 100%.

Only if you are subject to travel restrictions can you take part in the course in remote mode.

Contents

Macroeconomic concepts:

  • The Goods Market: Which are the components of demand?
  • Financial Markets: What happens if the ECB changes its interest rate?
  • The Labor Market: Which role does collective bargaining play in different countries?
  • Inflation and Deflation: Is there really a negative relation between inflation and unemployment?
  • Balance of Payments: What might be the results of a persistent current account deficit?

 

Economic Policy:

  • Monetary and Fiscal Policy: Under which circumstances may fiscal policy increase production? In which cases is monetary policy more suitable? Where are the limits to these policy measures?
  • Exchange Rates: Under which circumstances should an economy adopt a fixed exchange rate regime? When are flexible exchange rates more suitable? What are the implications of a devaluation?

Crisis:

  • Shocks to Demand and Supply: What were the consequences of the increase in oil prices in the 1970ies? Which are the effects of fiscal consolidation on output? How can a recession be counteracted?
  • Exchange Rate Crises: How can rumors trigger an exchange rate crises?
  • Financial Crisis: What were the macroeconomic implications of the decline in house prices in the US in 2006 and the bankruptcy of Lehman Brothers?
  • Coronavirus Crisis: Which policy measures did the ECB adopt to combat the economic consequences of the crisis? Which steps were taken by national governments?
Learning outcomes

After completing this course you will be able to…

  • describe and graphically depict central macroeconomic relationships for closed and open economies
  • to analyze the effects of various economic policies (e.g. government expenditure increases, interest rate decreases, exchange rate regimes) using the theoretical models taught in this course
  • to recognize macroeconomic concepts in other contexts (e.g. economics news, business plans) and to draw adequate conclusions

Additionally, this course enhances...

  • analytical skills
  • the capacity to depict complex relationships by simple models and to derive action plans
  • reasoned phrasing
  • the ability to interpret graphs
  • handling of numerical data
  • time management
Attendance requirements

Mandatory Attendance:

  • two missed units are tolerated (communication not necessary, no "apology")
  • more than two missed units: only if the reason is serious (please contact the lecturer!)
Teaching/learning method(s)

Teaching and learning methods:

  • traditional lectures
  • active participation, e.g. in class discussions, individual work, practice problems and mini-quizzes
  • written exams

 

Assessment

Points to achieve (max. 100):

  • 20 points: active participation (Quizzes, Homework,...)
  • 20 points: mid-term exam
  • 60 points: final exam

Grading schedule:

  • as of 50 points: Sufficient
  • as of 63 points: Satisfactory
  • as of 75 points: Good
  • as of 88 points: Excellent

Additional prerequisites for a positive grade:

  • at least 24 points in the final exam 
  • at least 15 points in active participation and mid-term exam

Final exam:

  • The final exam will take place in person at the WU. Therefore, your presence for the final exam at the WU is required to pass this Course.The final exam will take place December 16, 2020 at 15:30 (duration: 70 minutes). There is no alternative!
  • If the final exam is missed for important reasons (e.g. disease) it must be accompanied by written proof and sent to the lecturer via mail before the exam starts. There will be an opportunity to take the final exam at the end of January 2021.
  • If the overall score is negative: Repetition of final exam at the end of  January 2021 is possible upon the lecturers decision, if at least 18 points were obtained on the first try of the final exam.
  • It is not possible to retake the exam with an already positive grade.
Readings
1 Author: Blanchard, Olivier
Title:

Macroeconomics


Publisher: Pearson
Edition: 7
Remarks: Previous editions are not suitable!
Year: 2017
Content relevant for class examination: Yes
Recommendation: Essential reading for all students
Type: Book
Prerequisites for participation and waiting lists

Prerequesites for Attendance:

  • Due Registration
  • Attendance of the first lecture: To reserve your place, you have to attend the first lecture and sign the list of participants.
  • If you are not able to participate in the first lecture you have to inform the lecturer before the first lecture starts. Oherwise your place will be given to another student.

Waiting List:

  • After the registration period, students from the waiting list, who don't yet have a valid registration, will be assigned to available places in the specific courses. This allotment is not based on a first-come first-served principle. Rather, progress in the studies will be the decisive criterion.
  • The places of students who don't show up in the first lecture will be given to other interested students on the waiting list (They need to be present in the lecture). The lecturer will allocate these places.

If you registered for a course in "International Macroeconomics", but aren't able to participate any more, please cancel your registration electronically or write an mail to the lecturer.

Recommended previous knowledge and skills

Chapters 1 - 4 of the book "Macroeconomics" by Olivier Blanchard

Availability of lecturer(s)
Last edited: 2020-08-13



Back